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Home / Business
Business Plan - Guide
By:Assaf Katzir
Preparing a business plan is essential and complicated task. Essential for:
- Determination whether a business/project/venture is feasible.
- Capital raise.
Business plan preparation is complicated since it requires knowledge and experience in:
- Strategic planning.
- Marketing.
- Finance.
Executive Summary
Summary of all the beneath chapters' content.
The Product/Service
Include in this chapter:
- Detailed description of the offered product/service.
- The reason for having a relative advantage over competitors.
- Business profitability such as: gross profit, profit margins.
The Market and the Marketing Plan
This chapter contains the future plan and concept of marketing the offered products/services.
- Current market analysis, using formal publications of statistical details.
- Figures of the required market in order to show the business potential and market size.
- Detailed description of each factor involved in the business opportunity.
- Competitors and competition – Details of competitors (names, market share, products/services etc'), overlapping areas with the competitors.
- Customers' characterization – Customers' identification (institutional customers, reoccurring customers etc') and their potential of buying products/services.
- Business environments analysis – Definition and description of all the issues that can influence the business activity.
- Strategic marketing targets and goals – set of strategic measurable marketing targets and goals such as:
- Building wide and loyal customers circle for the long term.
- Standing in sales program plan, presented in this business plan.
- Positioning the business as high standard quality and service.
- SWOT analysis – Strengths, Weaknesses, Opportunities and Threats. Specify for each element, several relevant point.
- Marketing plan – Include several means that promote the business within the potential customers.
- Possible marketing activities: direct mailing, advertisement in local and professional newspapers, agents etc'.
- Specify the marketing activities for each customer type.
- Pricing policy – Specify the pricing policy of products/services.
- Marketing and sales cost estimation –
- Specify all expected costs of the marketing and sales activities.
- A forecast period of 3-5 years.
- All assumptions taken in this plan should be specified.
- Sales income estimation –
- Specify all expected sales income.
- A forecast period of 3-5 years.
- All assumptions taken in this plan should be specified.
Human Resources and Operating Plan
- Key persons –
- Specify all key persons required for the business to succeed.
- Specify the costs of hiring each key person.
- General and administrative –
- All assumptions taken regarding personnel should be specified.
- Specify all expected costs of personnel.
- Specify all expected fixed cost (rent, phone, electricity, insurance, maintenance etc').
- Specify all expected adjustable costs.
- A forecast period of 3-5 years.
- Operation costs –
- All assumptions taken regarding operation should be specified.
- Specify all expected fixed cost (rent, phone, electricity, insurance, maintenance etc').
- Specify all expected adjustable costs.
- A forecast period of 3-5 years.
Investment Plan
Detail of the investment in the business.
- Specify the resources.
- Equity.
- Loans and mortgages.
- Credit line.
- Other resources.
- Specify the uses.
- Equipment and machinery.
- Working capital.
Finance Plan
Specify a forecast of business outcomes.
- For a period of 3-5 years.
- According to all assumptions mentioned above.
- Profit/loss report.
- Cash flow report.
- Break Even Point – Provide the business break even point. Provide several success' levels scenarios.
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Article keywords: business plan, business plans, business planning, strategic planning, marketing plan, finance plan
Article Source: http://www.articles2k.com
Assaf Katzir is owner and CEO of Katzir Soze Investments Ltd
Additional useful and quality information for managers, start-ups and small businesses is available at www.business-starter.com
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